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KEEP OR DROP A DIVISIONJan Shumard, president and general manager of Danbury Company, was concerned about the future of one of the company's largest divisions. The division's most recent quarterly income statement follows:
Sales
$3,751,500
Less: Cost of goods sold
2,722,400
Gross Profit
$1,029,100
Less: Selling and administrative expenses
1,100,000
Operating (loss)
$ (70,900)
Jan is giving serious consideration to shutting down the division because this is the ninth consecutive quarter that it has shown a loss. To help him in his decision, the following additional information has been gathered:
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Growth stocks tend to:
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